Asia Banking Research

Apr

Digital banking efforts accelerate in the Philippines

The Philippines is determined to speed up financial inclusion through digitization. By 2023, the BSP aims to digitize at least 50 percent of total retail transactions and bring 70% of Filipino adults into the formal financial system. To that end, it introduced guidelines for digital banks in December 2020 and has thus…

Apr

Asia Banking Research

Can Razer still become a digital bank?

Singapore’s digital banking race had far more losers than winners. Of all the failed bids, Razer’s must have been among the hardest to swallow. The gaming hardware firm was a strong contender and had Sea and Grab not both been in the running, may well have prevailed. The question now…

Apr

Asia Banking Research

Will Thailand issue digital bank licenses?

Thailand is one of the few major Southeast Asian economies that has not unveiled a digital banking roadmap. Singapore’s digital banks will go live in 2022. Malaysia will accept applications for licenses this year and issue them by early next year. The Philippines recently announced it would issue digital bank…

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